Tsakos Energy Navigation (TEN) owns two of the first Greek-owned tankers with an LNG engine.
The company, which this year celebrates 30 years since its introduction to foreign stock markets, was one of the first Greek shipping companies to build ships with alternative fuels. In September and October, TEN delivered the first two, while the remaining two aframax type tankers with LNG engines are expected to be delivered in the first quarter of 2024. All four ships are in the Greek registry.
The company has a fleet of 68 tankers of all types, as well as three LNG carriers. The total capacity of the fleet reaches 8.4 million dwt.
The founder and CEO of TEN, Dr. Nikolaos Tsakos, pointed out in his note in the company’s ESG report for 2022: “As the modernization of the fleet is the key to our success, we continue to sell older ships and replacing them with new ones, more environmentally friendly tankers. In September and October 2023, we delivered the first two LNG-powered aframax tankers and we expect two more to join our fleet in the first quarter of 2024.”
Long-term charters
“All four ships have long-term charters linked to their shipbuilding contracts. With our industry in a transition phase towards decarbonization, we continue to invest in vessels that are in demand by our customers, meeting their transport needs for at least the next 15 years. At the same time, we remain open to carbon-neutral technologies, improved ship, engine and fuel designs as they become widely available and affordable.”
It is pointed out that TEN actively participates in many initiatives aimed at giving impetus to the green transition of shipping.
